Re: [tlug] International transfers

[Ian Lawrence Barwick <barwick@example.com>]

2022年8月29日(月) 17:59 Stephen J. Turnbull <stephen@example.com>:
>
> Hi, all
>
> I've got a consulting gig with a small multinational that has offices
> in the US and the UK (at least, but not in Japan).  I've negotiated
> compensation in yen (keeps the wife happy, no exchange rate risk), but
> haven't a good idea how to accept payment.  I was assuming the usual
> suspect[1], but it looks like they're going to make things really
> difficult on the KYC/AML front when they update the ToC in about a
> month.
>
> Anybody have experience/suggestions in this kind of situation?  My
> direct superior is in the US, and so is the client, so I'm not sure if
> payment out of the UK is feasible.  But if that makes sense I'll
> explore it with them, they've been pretty easy to work with.

FWIW I used to use my Shinsei bank account to receive payments from
overseas. IIRC there was a ca. 2000 yen handling fee for each transaction
(possibly refundable if you hold more than X amount of money with them,
but it's been a while so details are fuzzy). They will require proof that the
funds are legitimate (e.g. copy of invoice, relevant part of contract or
whatever), which can be provided online; the documentation I've uploaded
has been in English and the transfer cleared within a working day.
However the funds in question were in foreign currency, no idea how that
would work with yen but I assume it would be up to the sender to
specify that with their bank when sending.

I've also used "Wise" (formerly "TransferWise") to transfer money between
a bank account in Japan and an overseas account, which was a remarkably
smooth process, not sure if that would be suitable for your use case. xe.com
also provides an international money transfer service which I've heard good
things about, but never used myself.

HTH

Ian Barwick